Eagle Plains Resources Ltd. (TSX-V: EPL) added two new projects to its portfolio of uranium assets in the Athabasca Basin.
On Wednesday, the multi-faceted mineral explorer announced that it now had a total of 17 projects in the region spanning over 35,000 hectares. Eagle Plains has 100 per cent ownership of the projects and has increased its land package of uranium tenements significantly in the past three months by approximately 7,000 hectares.
The company acquired the Larado and Smitty projects, both situated within 10 kilometres of the Uranium City settlement in northern Saskatchewan.
Eagle Plains, based in Cranbrook B.C. and founded in 1992, has a diverse series of 35 projects in western Canada producing uranium, silver, gold, rare earths, copper, lithium, molybdenum and other minerals.
In addition to mineral production, the company generates revenue by offering geological consulting services and renting office space at its facility in Cranbrook. Eagle Plains says it has no outstanding debt.
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Uranium and nuclear power have been attracting investors in recent days
The region where the Eagle Plains uranium projects are situated, the Athabasca Basin, has produced over 900 million pounds of triuranium octoxide (U3O8) since 1975 and is still largely underexplored. The jurisdiction hosts the highest-grade uranium mine in the world.
ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) completed the largest electromagnetic survey of all time in the Athabasca Basin this year. Purepoint Uranium Group Inc. (TSX-V: PTU) (OTCQB: PTUUF) also recently completed an airborne magnetotellurics (MT) survey in the Basin and discovered a promising anomaly in the newly added eastern section of its property there.
ATHA is currently analyzing data from the survey and aims to break ground at its highest-priority drill target areas by the end of next year. In the years to come, ATHA will be capitalizing on the uranium mineralization contained in its vast 3.4 million acre land package in the region.
“You’re talking about 100 times, or greater uranium grade in these deposits, which is unparalleled anywhere else globally,” said ATHA’s CEO Troy Boisjoli.
The value of uranium recently ascended to the highest spot price seen since 2008 at approximately US$73.50 per pound. The commodity’s rising value combined with a renewed interest in nuclear power among investors is making the Athabasca Basin an increasingly attractive investment prospect.
ATHA Energy is a sponsor of Mugglehead news coverage
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